Figures released today by the Treasury Department show the U.S. budget deficit for July standing at $149.2 billion, a rise of 58% over last year’s corresponding period. According to the Treasury’s monthly budget statement, the deficit for July, 2014 was $94.6 billion. This July’s figure was higher than many had predicted; a Reuters poll of economists had realized a $132 billion estimated deficit. Therefore, the current fiscal year-to-date figures stand at $465.5 billion as of the end of last month.
Federal receipts for July were $225.5 billion, representing a 5% increase over the previous July. However, federal outlays amounted to $374.7 billion, which showed an increase of 21% from the same period. As of yet, congress has not raised the federal debt limit, with the Treasury using current emergency measures since the middle of March this year.
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US Government Waste